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ACQUISITIONS (Tables)
6 Months Ended
Jun. 28, 2020
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition The preliminary acquisition has been allocated to the assets acquired and liabilities assumed as of the date of acquisition as follows: 
Accounts receivable$6,731,260  
Prepaid expenses and other assets520,587  
Property and equipment, net296,309  
Right-of-use asset - operating leases1,714,984  
Intangible assets11,274,000  
Goodwill (non-deductible for tax purposes)6,178,351  
Current liabilities assumed(2,409,551) 
Deferred income taxes, net(910,501) 
Lease liability - operating leases(1,714,984) 
Total net assets acquired$21,680,455  
Cash$21,680,455  
Total fair value of consideration transferred for acquired business$21,680,455  
 
The preliminary allocation of the intangible assets is as follows:
 Estimated Fair
Value
Estimated 
Useful Lives
Covenants not to compete$302,000  5 years
Trade name7,000,000  Indefinite
Client partner list3,972,000  5 years
Total$11,274,000   
Business Acquisition, Pro Forma Information
The Company estimates the revenues and net income for the periods below that would have been reported if the LJK and EdgeRock acquisitions had taken place on the first day of the Company's 2019 fiscal year would be as follows (dollars in thousands, except per share amounts):
Thirteen Weeks EndedTwenty-six Weeks Ended
 June 28,
2020
June 30,
2019
June 28,
2020
June 30,
2019
Revenues$62,606  $84,653  $139,782  $164,543  
Gross profit$16,905  $24,733  $38,089  $47,323  
Net (loss) income$(4,829) $4,297  $(3,544) $7,334  
(Loss) Income per share:
Basic$(0.47) $0.42  $(0.34) $0.72  
Diluted$(0.47) $0.41  $(0.34) $0.71